Trump Secures $100 Billion Win for America

[lustylad]

Originally Posted by eyecu2

Does that same ideology hold true for things like Real Estate and business valuations?? Cause I remember when you said something contrary about those.

C'mon eye! I thought you were smarter than this. You're a finance/accounting guy, right?

This has nothing to do with "ideology". We're talking about accounting rules, aka GAAP, for recording Softbank's initial investment in We Work on its balance sheet. And how (according to Gristle) that initial booking amount may have changed afterwards. (Fyi - We Work filed for Chapter 11 BK a year ago.)

Actual transactions are subject to GAAP rules. Appraisals or valuations of a piece of real estate or business are not. The latter are estimates of value that by their nature are partly subjective.

In accounting, every credit has an offsetting debit. And vice versa. Appraisals don't involve credits & debits.

Here's the previous thread I assume you're referring to. None of my comments in it suggest anything "contrary" to the above. I was in fact trying to explain the same thing to you.

https://eccie.net/showthread.php?t=2872816

[HDGristle]

Son and WeWork CEO claimed investment of 18.5 as of 2019. Later claimed that they only went to a 16 investment as of 2023 for what happened from 2016 to 2020.

They also mistakenly said the investment was 11.5 in 2020 despite that being the loss.

Even when I give you very easy wins, you drop the ball because you don't do the required reading.

You get to $18.5 if you add in a line of credit that was offered. So, what they said publicly has been kinda fucky even though Son admitted that he lost his ass falling in love with WeWork. He was still drunk on that Saudi money from VF1

Youseda muh jick Google musheen. Him frund.

[lustylad]

Originally Posted by HDGristle

Youseda muh jick Google musheen. Him frund.

Go to bed. Maybe you can try to make sense in the morning.

[HDGristle]

I'm good... and plenty damn amused.

[lustylad]

How does the question whether Softbank lost $19 billion or $13 billion (or some other amount you can't pin down) investing in We Work 5 years ago make his latest pledge any less credible?

Mayayoshi Son has gonads. Even if he got hosed on We Work, his reputation is intact and he's back for more.

Do you understand how Silicon Valley works? They can strike out 19 times in a row, then hit a home run and still wind up delivering a YUGE return to shareholders/investors.

[HDGristle]

His misfires on doubling down on WeWork, dumping Nvidia actually hurt his rep. Bigly loss of face. His rep with you is intact. His rep with others is as strained as its been in some time.

The long and short of it. I hope he makes better choices with investments that benefit everyday Americans. Thus far, his 2016 pledge has produced pretty pisspoor results, which even he admits as he's tried to keep that Saudi money flowing while offsetting the gains from the Alibaba and ByteDance.

You play off WeWork as 5 years ago. The pledge period ended 5 years ago. He continued to dump money and credit offers, debt swaps, etc into WeWork after 2020 to try to salvage something other than majority ownership. This dogged SoftBank in 2023 and 2024. Q1 of FY25 as we continue to see chicken shit rather than chicken salad. They announced back in May that they were going to try to shift back into offense and focus on AI.

So what has Trump secured? Nothing. Son was already moving towards this and is using Trump for the photo-op again. Will this be good for America? We"ll see. So far, Son seems to show better choices when it comes to his non-U.S. investment decisions.

We would all like Yahoo without the dotcom bubble. If only he'd fell in love with Nvidia. Alas, he's a goat again instead of the goat.